LB Finance partners with KBSL | Daily News


LB Finance partners with KBSL

KBSL CEO Silmy Ahamed exchanges the partnership agreement with LB Finance Deputy General Manager IT Chethana Tharanga Kahandugoda
KBSL CEO Silmy Ahamed exchanges the partnership agreement with LB Finance Deputy General Manager IT Chethana Tharanga Kahandugoda

LB Finance PLC, partnered with KBSL Information Technologies Ltd., to protect their information and data from potential cyber security threats.

The all-encompassing security solution enhances the finance company’s current security posture, giving it a significant advantage over other players in the highly competitive financial services market. Protection from ever increasing and persistent cyber security threats, is of critical importance to finance companies, given the nature of their business and risks associated with it.

“Data is the most important asset in any industry and in the context of finance companies, data security is at the heart of their success. Inadequate security management makes companies vulnerable to many forms of cyber security threats that could ultimately result in colossal losses,” KBSL CEO Silmy Ahamed said, explaining the importance of advanced security solutions for finance companies.

KBSL, a company that is equipped with a broad knowledge of all aspects of Systems Integration, is well positioned to offer advanced security solutions to finance companies. Unlike product specific security solution providers, KBSL is well-versed in all relevant areas of ICT, giving its customer a major competitive advantage,” Ahamed said.

“In the absence of advanced security measures, even your own employees could become a threat by exposing passwords publicly, downloading free software and using unprotected cloud applications. With the exponential growth of cloud adoption across all industries, financial institutions are exposed to cloud computing models. This means financial policymakers must consider the broader context of cloud computing when formulating enterprise security policies,” Chethana Tharanga Kahandugoda, Deputy General Manager – IT, LB Finance PLC. said.

“Data Security compliance and regulatory requirements are an overwhelming challenge to information security officers in financial institutions. In addition to tangible financial losses, security breaches could also result in loss of customer confidence and institutional reputation. Therefore, adopting a robust security mechanism has become a daunting task in an ever-changing cyber threat landscape in which attacks are becoming more sophisticated and persistent. Conventional network security measures may not be sufficient in terms of detecting and preventing these attacks.

KBSL first commenced its operations as an IBM business partner and has grown over the years to be one of the leading Information/Systems Integrator in Sri Lanka.

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